HCCI - Heritage-Crystal Clean up 6% post Q3 results beat

Heritage-Crystal Clean ([[HCCI]] +6.1%) reported Q3 revenue decline of ~17% Y/Y to $87.13M, reflecting significant improvement in business compared to Q2.Oil Business segment revenues was $24.M (+25.2% Q/Q)Environmental Services segment operating margin of 23.4% was up 9.4 percentage points Q/Q.Revenues from services was $53.26M (-6.9% Y/Y); from products was $28.52M (-32% Y/Y); and rental income for the quarter was $5.36M (-5.5% Y/Y).Q3 Operating income declined by 190 bps to 6.2%.SG&A expense decreased 12.7% Y/Y to $10.5M, driven by lower compensation costs, partially offset by higher severance expense.Adj. EBITDA declined by 16.3% Y/Y to $12.21M; and margin expanded 10 bps to 14%.Cash provided by operating activities YTD was $22.82M, compared to $36.34M a year ago. Company has Cash and cash equivalents of $52.65M as of September 5, 2020."As demand for our base oil and the supply of used oil improved incrementally during the third quarter, we were able run our re-refinery efficiently which yielded vastly

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Heritage-Crystal Clean up 6% post Q3 results beat